Dogecoin — A Joke That Turned Into a Multi-Million Dollar Business

When the Dogecoin project started, nobody expected a brilliant future for it. The popularity of Dogecoin surprised even its founder, Billey Markus.

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When the Dogecoin project started, nobody expected a brilliant future for it. The popularity of Dogecoin surprised even its founder, Billey Markus.

On December 8, 2013 Markus presented the crypto-community a new cryptocurrency named in honor of a dog of shiba-inu breed, an Internet meme under the name Doge. Trades at the exchanges of this coin began on December 16, 2013 with a price 73 Satoshi.

However, Dogecoin prices have fallen to 32 Satoshi not for a long time and soon began rising up. On February 10, 2014 its price reached 240 Satoshi. Two months from the launch the market capitalization of the project was already nearly $80 million! Though, Dogecoin was continuously falling from this top and later the price never returned to a level higher than 200 Satoshi.

Unpredictable movements of Dogecoin price

August and September 2014, gave one more top to the price of Dogecoin. In a month the price jumped from the level of about 24 to 96 Satoshi. That allowed successful traders to increase their wealth by four times, but then Dogecoin again swept down, having fallen to 38 Satoshi in May, 2015.

Recession was followed by the steady growth which again gave optimism to traders. It seemed that the price would again rise higher than 100 Satoshi, but unfortunately no. On June 22 there was one more local top at 81 Satoshi, and from this level the course began falling over again.

Cheerful Dogecoin

There are many factors which speak well about Dogecoin. This cryptocurrency is “cheerful” and “not boring”, if we can say that about a cryptocurrency. Moreover, it isn't as complicated as ETH or even Bitcoin for the ordinary user.

Because of the small price of Dogecoin, the cost of transactions decreases to unnotably, thus, transactions get completed very quickly. Dogecoin have an active and amicable community which is constantly engaged in the advertising and promotion of the project. Many criticized a joint mining of Dogecoin and Litecoin, but it appeared that the decision was correct, and it did good for both cryptocurrencies.

Giving hope in 2016

At the end of the year 2015, Dogecoin met at the level of 30 Satoshi, and by the beginning of 2016 this cryptocurrency grew up a little, to 40 Satoshi and above.

In 2016, Dogecoin has all opportunities for a steady growth. The chief developer at Ethereum, Vitalik Buterin, considers Dogecoin his favorite cryptocurrency after ETH, and builds in support of Dogecoin in his system of clever contracts.

On the Chinese exchanges Dogecoin trades slightly more actively, and trading volumes on Poloniex hold Dogecoin in the top ten most popular cryptocurrencies. These factors say that Dogecoin will please traders in 2016 with new tops and zones for favorable purchases definetly more than once.